by Kipp Gillian | Nov 8, 2023 | A Quick Word - Kipp Gillian
The foreshadowing, better yet the existence, of artificial intelligence predates even Nikola Tesla ‘s own prediction, “”I purpose to show that, however impossible it may now seem, an automaton may be contrived which will have its ‘own mind,’” Tesla...
by | Oct 27, 2023 | Affordable Housing
Liberty Square Phase IV expects completion in March 2025. Image courtesy of Related Group Related Urban Development Group has broken ground on Serenity Liberty Square, a 193-unit affordable community representing the fourth phase of the Liberty Square redevelopment...
by | Oct 26, 2023 | Affordable Housing
Twin Oaks Senior Apartments reserves residences for seniors of 62 and over. Image courtesy of Highridge Costa Highridge Costa has opened Twin Oaks Senior Apartments, a 130-unit fully affordable, age-restricted community in Oakley, Calif. SVA Architects designed the...
by | Oct 25, 2023 | Affordable Housing
Roosevelt Village Apartments came online in 1969. Image courtesy of Yardi Matrix Tryko Partners has secured a $21.6 million refinancing loan for Roosevelt Village Apartments, a 101-unit affordable housing community in Carteret, N.J. The 10-year CMBS loan carries a...
by | Oct 24, 2023 | Affordable Housing
Vista Ridge comprises 308 units. Image courtesy of Dominium Dominium has opened Vista Ridge, a 308-unit fully affordable community in Phoenix. This was the developer’s first project in Arizona. Dominium broke ground in 2021 and funded Vista Ridge with a $58...
by | Oct 24, 2023 | Affordable Housing
Suncrest Vista at Canyon Trails will also be age-restricted. Rendering courtesy of Dominium Dominium will soon break ground on Estrella Springs and Suncrest Vista at Canyon Trails, two adjacent affordable communities totaling 657 units in Goodyear, Ariz. The latter...
by Kipp Gillian | Oct 24, 2023 | Affordable Housing
One way through which San Francisco city planners are trying to address the metro’s notorious low-income housing shortage is the HOME-SF program. This local density bonus policy provides developers with priority processing, relief from density controls and up to...
by | Oct 20, 2023 | Affordable Housing
Breton Grove will include 33 permanent supportive housing units. Rendering by Hooker DeJong, courtesy of Woda Cooper Cos. Developer Woda Cooper Cos. has broken ground on Breton Grove, a 90-unit affordable multifamily community in Grand Rapids, Mich. The project will...
by | Oct 17, 2023 | Affordable Housing
Lafayette Apartments previously traded for $39 million in 2016. Image courtesy of Yardi Matrix Spira Equity Partners has acquired Lafayette Apartments, a 340-unit fully affordable community in Alexandria, Va. Jonathan Rose Cos. sold the asset for $68.8 million, public...
by | Oct 17, 2023 | Affordable Housing
Leon Creek Flats is slated for a 2025 completion. Image courtesy of Lincoln Avenue Communities Lincoln Avenue Communities, a subsidiary of Lincoln Avenue Capital, has broken ground on Leon Creek Flats, a 308-unit fully affordable multifamily community in San Antonio....
by | Oct 16, 2023 | Affordable Housing
Renovations at Skyline View Apartments will be completed in August 2024. Image courtesy of Yardi Matrix Community Preservation Partners has teamed up with The Hampstead Cos. for the purchase of a 112-unit fully affordable community in Layton, Utah. Barlow Corp. sold...
by | Oct 16, 2023 | Affordable Housing
Nonprofit organization SOME (So Others Might Eat), has opened Roberts Residences, an affordable apartment community in Northeast Washington, D.C. Ribbon-cutting ceremony at Robertson Residences, Washington, D.C. Photo courtesy of SOME Situated at 1515 North Capitol...
by | Oct 13, 2023 | Affordable Housing
The report was released at the organization’s annual Summit for Housing Changemakers in Washington, D.C. COVID set off a shift in household formation patterns that has not been seen since the early 20th century, according to a new report, and that shift has...
by | Oct 9, 2023 | Affordable Housing
At the end of last year, the company also opened Vela, a 87-unit fully affordable and senior housing community in Los Angeles. Image courtesy of Affirmed Housing Affirmed Housing has completed Asante, a 55-unit affordable senior housing community in Los Angeles. The...
by | Oct 9, 2023 | Affordable Housing
Property management company The Life Properties was founded in 2017, as a subsidiary of Olive Tree Holdings. Despite the relatively youthful presence in the multifamily market, it is not an inexperienced unit but rather a burgeoning one, having grown through a...
by | Oct 6, 2023 | Affordable Housing
Wylie Senior Apartments in Wylie, Texas, is one of the projects included in the funds. Image courtesy of WNC WNC has closed a pair of institutional low-income housing tax funds: WNC Institutional Tax Credit Fund 55 LP, or Corp 55, and WNC Institutional Tax Credit Fund...
by | Oct 6, 2023 | Affordable Housing
Since the end of the COVID-19 pandemic, many shoppers again prefer in-person retail experiences to buying online, which is rebooting the bricks and mortar retail market. While availability of retail space in destination lifestyle and neighborhood shopping centers has...
by | Oct 4, 2023 | Affordable Housing
Park Montgomery West will replace the existing garage structure. Image courtesy of Enterprise Community Development Enterprise Community Development has closed on financing for two affordable communities in Silver Spring, Md. This included funds for the renovation of...
by | Oct 1, 2023 | Affordable Housing
The property is reserved for seniors making 50 percent of the area’s median income. Image courtesy of Douglaston Development Douglaston Development has added much-needed affordable senior living units to New York City’s housing stock. The company opened 2850 Webster...
by | Sep 29, 2023 | Affordable Housing
Built in 1971, Bonnie Brae Terrace encompasses three, four-story buildings. Image courtesy of The BLVD Group The BLVD Group has purchased Bonnie Brae Terrace, a 164-unit affordable senior housing community in Belmont, Calif. Lesley Senior Communities sold the asset...
by | Sep 29, 2023 | Affordable Housing
Polaris at Totem Lake will feature 440 units and 15,000 square feet of interior amenity space. Image courtesy of Inland Group The public-private, non-profit partnership between Evergreen Impact Housing Fund, Inland Group and Microsoft has fully financed Polaris at...
by | Sep 29, 2023 | Affordable Housing
Starhill Phase I will comrpise 326 units. Rendering by Marvel Architects, courtesy of Services for the UnderServed Services for the UnderServed and Bronx Pro have topped off Starhill Phase I, a 326-unit affordable housing community in the Bronx. Marvel Architects...
by | Sep 28, 2023 | Affordable Housing
The 1971-built Oxford Park traded for $24.9 million. Image courtesy of Standard Communities The public-private partnership between Standard Communities and Pacific Southwest Development Corp. acquired six fully affordable communities, encompassing 407 units, in Los...
by | Sep 27, 2023 | Affordable Housing
Mountain View II and III comprise a total of 241 affordable units across 18 buildings. Image courtesy of Yardi Matrix Community Preservation Partners has purchased Mountain View II and III, two affordable housing communities in Albuquerque, N.M., for $22.3 million. JL...
by | Sep 27, 2023 | Affordable Housing
Completed in 2009, Sunrise Commons exchanged hands for $15.3 million. Image courtesy of Walker & Dunlop Lincoln Avenue Communities has purchased Sunrise Commons and Malibu Gardens, two affordable housing communities, totaling 365 units, in the Miami metropolitan...
by | Sep 25, 2023 | Affordable Housing
The 145,000-square-foot building will be energy efficient and all electric. Rendering by Secchi Smith for Bernheimer Architecture, courtesy of Breaking Ground. Breaking Ground and Community Healthcare Network have started construction on Sutphin Senior Residence, a...
by | Sep 25, 2023 | Affordable Housing
Mayor Eric Adams delivers reforms “City of Yes for Housing Opportunity”. Screenshot of the NYC Mayor’s Office video by Jordana Rothberg In an effort to alleviate New York City’s housing crisis, Mayor Eric Adams has proposed a set of reforms...
by | Sep 22, 2023 | Affordable Housing
The NRP Group, the Columbus Metropolitan Housing Authority, Mayor Andrew Ginther and state/local officials at the grand opening of The Sinclair Apartment Homes. Image courtesy of The NRP Group The NRP Group has opened The Sinclair Apartment Homes, a 180-unit fully...
by | Sep 22, 2023 | Affordable Housing
Donicia Irizarry talks about the challenges workforce housing owner-operators need to face today. Image courtesy of OneWall Donicia Irizarry grew up in the real estate industry, climbing the corporate ladder one step at a time. After spending a few years in...
by | Sep 21, 2023 | Affordable Housing
A rendering of H.R. Crawford Gardens in Washington, D.C. Image courtesy of Soto Architecture & Urban Design The District of Columbia Housing Finance Agency has provided $51.3 million in financing for the construction of a new $52 million, 76-unit development for...
by | Sep 20, 2023 | Affordable Housing
Federal Reserve Chairman Jerome Powell speaks at the Sept. 20 FOMC press briefing. Screenshot of the Federal Reserve livestream by Jordana Rothberg The Federal Reserve and the Federal Open Markets Committee paused interest rates today. For at least the time being, the...
by | Sep 18, 2023 | Affordable Housing
Hemming Crossing is designed to achieve LEED certification and will incorporate one- and two-bedroom floorplans. Image courtesy of Woda Cooper Cos. Woda Cooper Cos. has broken ground on Hemming Crossing, a 42-unit, fully affordable and age-restricted community in...
by | Sep 14, 2023 | Affordable Housing
One of the properties in the portfolio. The firm declined to disclose its identity. Image courtesy of Alliant Walker & Dunlop-owned Alliant Capital has closed two Section 42 Housing Tax Credit Investment Funds. The investment vehicles raised a total of $281...
by | Sep 13, 2023 | Affordable Housing
Aaron Pechota believes that the worsening shortage of affordable housing can be tackled through stronger collaborations between public and private entities. Image courtesy of The NRP Group The U.S. Department of Housing and Urban Development has seen an alarming drop...
by | Sep 13, 2023 | Affordable Housing
Farnsworth House was built in 1982 under the federal Section 202 Program. Image courtesy of MassHousing Charles H. Farnsworth Senior Housing Corp. has received $14.5 million for the renovation, preservation of affordability and refinancing of Farnsworth House, a...
by | Sep 8, 2023 | Affordable Housing
Branchville Crossing will comprise 51 units. Image courtesy of Cruz Development Corp. Cruz Development Corp. and its not-for-profit partner Housing Initiative Partnership have announced plans to build Branchville Crossing, a 51-unit affordable housing community in...
by | Sep 6, 2023 | Affordable Housing
Pinnacle 441 Phase 2 will rise on a former dilapidated trailer park. Image courtesy of Pinnacle Pinnacle has secured $47.8 million in construction financing for Pinnacle 441 Phase 2, a 100-unit affordable housing development in Hollywood, Fla. The developer plans to...
by Kipp Gillian | Aug 15, 2023 | Distressed Assets
Wall Street firms are raising new funds to acquire office buildings, apartments and other troubled commercial real estate at a fraction of the price investors paid a few years ago, the Wall Street Journal reported. Cohen & Steers, Goldman Sachs, EQT Exeter and...
by Kipp Gillian | Aug 12, 2023 | Distressed Assets
From inflation and interest rates to return of office and economic conditions, today’s market is at a unique crossroads of challenges and opportunities. Hear from leading experts and experienced commercial real estate professionals on winning strategies and powerful...
by Kipp Gillian | Aug 9, 2023 | Industrial
Prologis has bought a 47-acre land in Somerset, New Jersey. The firm plans to develop an industrial space spanning approximately 436,900 square feet. The sale price was not disclosed. Located at 187 Davidson Avenue, the sustainable development, set to complete...
by Kipp Gillian | Aug 9, 2023 | Multifamily
Newmark has appointed John Ward as vice chairman of its Multifamily Capital Markets Group in New York. Ward will report to Sharon Karaffa, vice chairman and co-head of production for Multifamily Capital Markets. With over three decades in commercial real estate,...
by Kipp Gillian | Aug 9, 2023 | Hotel
Westville, an American fare restaurant, is set to open its eighth New York City location at 2290 Broadway, marking its debut on the Upper West Side. Spanning 4,300 square feet across a ground floor, lower level, and outdoor dining space, the restaurant...
by Kipp Gillian | Aug 9, 2023 | Multifamily
Boston multifamily market experiences robust demand in the second quarter, reflected in healthy occupancy rates and a growing unit inventory, according to Colliers Boston 23 Q2 Multifamily Report. Over the past year, occupied units increased by 5,000 (2.3%). ...
by Kipp Gillian | Aug 9, 2023 | Multifamily
3 Warren Street Realty Trust has sold a 15-unit multifamily property in Stoneham, Massachusetts, for $2.3 million. The property was acquired by a Massachusetts-based limited liability company. The name of the buyer was not disclosed. Located at 3 Warren St on a...
by Kipp Gillian | Aug 9, 2023 | Multifamily
M&T Realty Capital Corporation has provided a $2 million Freddie Mac Targeted Affordable Housing Tax-Exempt Loan for the preservation and rehabilitation of Bon Secours Apartments in Baltimore, MD. The 119-unit affordable housing property utilizes 4% Low-Income...
by Kipp Gillian | Aug 9, 2023 | Industrial
A coalition of interests led by Amtrak has submitted applications for nearly a billion dollars of federal funding to transform Chicago’s aging Union Station. The plan would revamp the busy station into a modern connection line between Chicago and Detroit. Gov. JB...
by Kipp Gillian | Aug 9, 2023 | Industrial
Prysmian Group, an energy and telecom cable organization, recently broke ground on a $63.8 million expansion project at its Du Quoin, Illinois. The project will increase the plant’s ability for cable manufacturing for the renewable energy and electric vehicle sectors....
by Kipp Gillian | Aug 9, 2023 | Retail
Blank Rome LLP is pleased to announce that Partner Joel Sestito, Of Counsel Rachel Mather, and Associate Olivia Ortiz have joined the firm’s nationally recognized Real Estate group in Chicago. Real estate finance pros, Joel, Rachel, and Olivia represent lenders in...
by Kipp Gillian | Aug 9, 2023 | Industrial
Blank Rome LLP is pleased to announce that Partner Joel Sestito, Of Counsel Rachel Mather, and Associate Olivia Ortiz have joined the firm’s nationally recognized Real Estate group in Chicago. Real estate finance pros, Joel, Rachel, and Olivia represent lenders in...
by Kipp Gillian | Aug 9, 2023 | Industrial
JLL announced it has appointed Jackie Shropshire, Senior Vice President, to lead the firm’s Chicago Industrial business. Shropshire, presently a member of the Industrial Portfolio Services team, joined the company in 2021 following senior leadership roles with Stryker...
